Directed Electronics Purchases Polk Audio For $136 Million
Directed Electronics, Inc. announced that it has entered into a definitive agreement to acquire Polk Audio, a leading provider of high performance home and mobile audio equipment for $136 million in cash. Current Polk management will be joining the Directed team after the acquisition which is scheduled to close during the third quarter of 2006. “The acquisition of Polk, with its leading consumer brand, complements our current...
Tower Records On The Ropes
Tower Records, overwhelmed with mounting debt, may be on the brink of going under. Recently, all the major labels were forced to stop shipments to the once high-flying retailed due to non-payment. Chief executive Joe D’Amico, recruited to manage the current crisis and possible bankruptcy, appears to have failed in his mission and is now possilby setting the stage for a straight liquidation, depending largely on decision of chief...
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